TimesSquare Capital Management LLC Decreases Position in Unifirst Corporation (UNF)

TimesSquare Capital Management LLC lowered its holdings in Unifirst Corporation (NYSE:UNF) by 0.6% during the second quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 327,510 shares of the textile maker’s stock after selling 1,850 shares during the quarter. TimesSquare Capital Management LLC owned 1.62% of Unifirst Corporation worth $46,081,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in UNF. BlackRock Inc. grew its holdings in Unifirst Corporation by 52,993.4% in the 1st quarter. BlackRock Inc. now owns 1,852,961 shares of the textile maker’s stock valued at $262,102,000 after buying an additional 1,849,471 shares during the last quarter. Neuberger Berman Group LLC grew its holdings in shares of Unifirst Corporation by 32.4% during the 1st quarter. Neuberger Berman Group LLC now owns 693,703 shares of the textile maker’s stock worth $98,124,000 after purchasing an additional 169,919 shares in the last quarter. Vanguard Group Inc. grew its holdings in shares of Unifirst Corporation by 6.4% during the 1st quarter. Vanguard Group Inc. now owns 1,389,043 shares of the textile maker’s stock worth $196,481,000 after purchasing an additional 83,165 shares in the last quarter. TPG Group Holdings SBS Advisors Inc. grew its holdings in shares of Unifirst Corporation by 7.4% during the 1st quarter. TPG Group Holdings SBS Advisors Inc. now owns 678,600 shares of the textile maker’s stock worth $95,988,000 after purchasing an additional 46,874 shares in the last quarter. Finally, Victory Capital Management Inc. grew its holdings in shares of Unifirst Corporation by 8.9% during the 1st quarter. Victory Capital Management Inc. now owns 528,690 shares of the textile maker’s stock worth $74,783,000 after purchasing an additional 43,313 shares in the last quarter. 73.47% of the stock is currently owned by hedge funds and other institutional investors.

UNF has been the topic of several recent research reports. Zacks Investment Research raised Unifirst Corporation from a “hold” rating to a “buy” rating and set a $157.00 price objective on the stock in a report on Tuesday, May 30th. Robert W. Baird raised Unifirst Corporation from a “neutral” rating to an “outperform” rating and boosted their price target for the company from $145.00 to $163.00 in a research note on Thursday, June 29th. Finally, BidaskClub lowered Unifirst Corporation from a “hold” rating to a “sell” rating in a research note on Wednesday, July 12th.

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Shares of Unifirst Corporation (NYSE UNF) traded up 0.52% during mid-day trading on Friday, reaching $145.30. The company had a trading volume of 121,064 shares. The firm’s 50 day moving average is $140.81 and its 200-day moving average is $138.93. The stock has a market capitalization of $2.94 billion, a P/E ratio of 26.77 and a beta of 0.70. Unifirst Corporation has a 12-month low of $116.67 and a 12-month high of $147.65.

Unifirst Corporation (NYSE:UNF) last issued its quarterly earnings data on Wednesday, June 28th. The textile maker reported $1.36 EPS for the quarter, beating the consensus estimate of $1.34 by $0.02. The firm had revenue of $409.80 million during the quarter, compared to the consensus estimate of $396.07 million. Unifirst Corporation had a net margin of 7.12% and a return on equity of 7.41%. The company’s quarterly revenue was up 11.4% compared to the same quarter last year. During the same period in the prior year, the firm posted $1.49 earnings per share. On average, analysts expect that Unifirst Corporation will post $4.93 earnings per share for the current fiscal year.

The business also recently declared a quarterly dividend, which will be paid on Friday, September 29th. Investors of record on Friday, September 8th will be paid a $0.0375 dividend. This represents a $0.15 dividend on an annualized basis and a yield of 0.10%. The ex-dividend date is Thursday, September 7th. Unifirst Corporation’s payout ratio is currently 2.77%.

About Unifirst Corporation

UniFirst Corporation is a provider of workplace uniforms and protective work wear clothing in the United States. The Company designs, manufactures, personalizes, rents, cleans, delivers, and sells a range of uniforms and protective clothing, including shirts, pants, jackets, coveralls, lab coats, smocks, aprons and specialized protective wear, such as flame resistant and high visibility garments.

Institutional Ownership by Quarter for Unifirst Corporation (NYSE:UNF)

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